+35%

est. 2Y upside i

CybersecuritySeries A

Stripe for online identity verification

Rank

#2289

Sector

Security & Cybersecurity

Est. Liquidity

~6Y

Data Quality

Data: Low

Authologic occupies a genuinely differentiated niche at the intersection of digital identity orchestration and European regulatory change, with a credible early customer base and a moderate competitive moat.

Last updated: May 14, 2026

Bull (20%)+185%

eIDAS 2.0 regulatory mandate accelerates European digital ID adoption, Authologic captures meaningful orchestration-layer market share and closes a Series B at ~$150-200M post-money by late 2027; common stockholders net approximately 185% gain after clearing the $8.79M preference stack on a ~$120M+ common equity value basis.

Base (50%)+40%

Authologic grows steadily within fintech, gaming, and regulated verticals, raises a Series B at ~$60-75M post-money by 2027-2028; two additional dilutive rounds reduce grant value modestly, but common equity still appreciates roughly 40% from the current implied ~$40M post-money Series A baseline.

Bear (30%)-75%

Sumsub, Veriff, and Jumio intensify pricing pressure and accelerate e-ID integrations, stalling Authologic's differentiation story; with only $8.79M total funding and no disclosed revenue, the company faces a bridge or down round within 12-18 months, eroding approximately 75% of common equity value.

Est. time to liquidity~6.0 years

Preference Stack Risk

high

Funding Intensity

22%

Total liquidation preferences of $8.79M sit ahead of common stock; against an estimated post-money Series A valuation of ~$40M, the preference stack represents approximately 22% of total company value.

Dilution Risk

high

At Series A with likely 2-3 additional funding rounds before any liquidity event, cumulative dilution to common equity grants could reach 40-60% before an exit is realized.

Secondary Liquidity

none

No secondary market exists for a Series A-stage, Warsaw-headquartered identity startup of this size; equity is fully illiquid until a formal acquisition, IPO, or late-stage tender offer.

Questions to Ask at the Interview

Strategic questions based on Authologic's data — designed to show you've done your homework.

  • 1

    “How does eIDAS 2.0 specifically change your competitive moat versus Sumsub and Veriff over the next 18 months, and which e-ID wallet integrations are already live versus roadmap-only?”

  • 2

    “What is your current ARR and net revenue retention rate, and how does the usage-based component of your hybrid pricing model scale as customers grow verification volume?”

  • 3

    “What post-money valuation was set at the October 2024 Series A, at what strike price will options be granted relative to the 409A, and what is OpenOcean's target holding period given their typical fund lifecycle?”

Community

Valuation Sentiment

Our model estimates +35% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.